Consumer confidence remains consistent

Canadian consumer confidence was remarkably consistent in 2012. After beginning the year at 75.3 in the first quarter of 2012, Canadian consumer confidence held steady at 79.1 and 79.0 in August and November, respectively.

“On the whole, Canadians consumers displayed remarkably consistent levels of confidence in 2012, but there are some regions where confidence has been more volatile than others,” says Doug Anderson senior vice-president, Investors Group. “While Quebec and B.C. have seen some recent erosion, Atlantic numbers have jumped and Ontario’s have seen a modest improvement.”

Read: Consumer confidence holds steady

Consumer confidence in the province of Ontario trended below the national average in 2012, beginning the year at 71.4. The index would jump to 75.9 in the second quarter, staying relatively consistent through the third quarter (75.3), before edging up to 77.3 in the final wave of 2012.

Consumer confidence in Quebec would end the year at 76.9, at 87in Manitoba and Saskatchewan, 88.9 in Alberta and 76 in British Columbia.

Interestingly, as the year came to an end, consumer confidence in Atlantic Canada was virtually identical to that of Canada, overall.

Read: Canadians more confident than Americans

“Canadians appear to have adopted a steady-as-she-goes approach to their economic circumstances in the near and mid-term,” said Jack Courtney, vice-president, high net worth planning at Investors Group. “Viewing economic events in the proper perspective is very important when it comes to personal financial planning, saving and investing.”

Read: U.S. consumer confidence lowest since Nov 2011

Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.